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Treasuries drift lower off the recent...>

US TSYS/30Y
US TSYS/30Y: Treasuries drift lower off the recent price range amid last-minute
sales/shorts into the 1pm ET US$15B 30Y bond auction (new). Nomura N.American
head of rate research George Goncalves and analysts Stanley Sun and Penglu Zhao
noted today's 30Y auction could benefit as "demand for long-end duration (for
yield and curve trades) remains very strong as suggested by another record month
of long-end US Treasury stripping activities." 
- They said "the recent acknowledgment from the Treasury secretary about
delaying the prospects of issuing a new ultra-long bond security is supportive
for 30s."

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